Home Buying in Chicago>Question Details

Dan Ghaowi, Real Estate Pro in Chicago, IL

Anyone have any pocket listings?

Asked by Dan Ghaowi, Chicago, IL Tue Jul 16, 2013

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Answers

13
Joseph and Matt have both expressed pocket listing as a 'bad idea' or 'disservice.'
I have to disagree.
They are the greatest thing since sliced bread.
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Just like a copyright reserves how ones intellectual property will be used, a pocket listing allows the agent to determe how the sellers or homeowners best interests will be served. The more facets of the transaction that can be controlled, the greater the benefit to the seller.
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Let's understand, we have not defined what a pocket listing is. The term is a truth married to a lie.
A "LISTING" is a home for sale that is listed in the MLS. The term as commonly used does not distinguish between an exclusive, secret, FSBO or 'not for sale' home. ALL not for sale homes can be pocket listing without a more reliable definition.
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I would propose that every knowledgeable agent have no less the three tiers of marketing a home to volumes of buyers and agents before it is ever considered for MLS entry and the homes degradation on aggregate websites.
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Joseph is correct in one dimension of the disservice aspect. Pocket listings, by design, ignore the tire kickers, low-ballers, Big Bank Borrowers, unqualifed and unrepresented buyers. Exactly how that is a disservice to my seller has not become apparent, in any MEASURABLE aspect.
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Those who respond to pocket listings know the community, know the values, and are highly motivated buyers. Who could ask for anything more? And, as we all know, real buyers come through other real estate professionals.
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If you do business in FL and have pocket listings, put me in your loop.
2 votes Thank Flag Link Tue Jul 16, 2013
I think these are stupid. I really see zero point to it. The only reason any company would do this is simple: money. If you keep it to yourself, you will double up or make your company more money. If you can sell it in your own company quick, imagine how much more the open market would get.
1 vote Thank Flag Link Tue Jul 16, 2013
We're with you Matt although what David says below is logical.
Flag Tue Jul 16, 2013
I am in need of unlisted properties (seen everything on MLS) anywhere in the Chicagoland area. Rehabs, foreclosure, etc.. I have investors with proof of funds.
0 votes Thank Flag Link Wed Jul 17, 2013
which area are you looking in
0 votes Thank Flag Link Wed Jul 17, 2013
What is the question? If you're seeking to help your clients, be more specific. Most brokers know of properties that aren't on the market yet.
0 votes Thank Flag Link Tue Jul 16, 2013
i think it takes a very savy agent to know how to work these correctly..99% of the time its is disservice
0 votes Thank Flag Link Tue Jul 16, 2013
A pocket listing is a normal thing an agent should have for any property that will be or should be listed soon.


What are you looking for??

Where are you looking?

Just a price consideration or what special would you like?

David Green, Managing Broker
847 450 0500
0 votes Thank Flag Link Tue Jul 16, 2013
Dan,

Where are you looking?
0 votes Thank Flag Link Tue Jul 16, 2013
GREAT LOCATION - PRISTINE PROPERTY

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Chicago, IL 60613

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Virtual Tour:
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0 votes Thank Flag Link Tue Jul 16, 2013
What areas?




Sohail A. Salahuddin | Founder and Team Leader

Innovative Property Consultants Group | Sales and Leasing

http://www.innovativepropertyconsultants.com



Jameson Sotheby’s International Realty

425 W. North Ave. | Chicago, IL 60610 


O: 312.335.3230 | C: 312.437.7799 | F: 847.805.6030

"Extraordinary Service For Extraordinary Lives"
0 votes Thank Flag Link Tue Jul 16, 2013
Yes I have some
Email at barcelonarealtor@gmail.com
0 votes Thank Flag Link Tue Jul 16, 2013
Everyone has pocket listings, be more specific.
0 votes Thank Flag Link Tue Jul 16, 2013
It wouldn't be smart if there were.
0 votes Thank Flag Link Tue Jul 16, 2013
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